Sign In

Delhi News Daily

  • Home
  • Fashion
  • Business
  • World News
  • Technology
  • Sports
  • Politics
  • Lifestyle
  • Entertainment
Reading: Africa elects its next ‘super banker’ – Times of India – Delhi News Daily
Share

Delhi News Daily

Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Delhi News Daily > Blog > World News > Africa elects its next ‘super banker’ – Times of India – Delhi News Daily
World News

Africa elects its next ‘super banker’ – Times of India – Delhi News Daily

delhinewsdaily
Last updated: May 29, 2025 4:20 am
delhinewsdaily
Share
SHARE


Contents
Five priorities:Election rules:
Africa elects its next 'super banker'
Head of the African Development Bank (AfDB) Akinwumi Adesina (Image credit: AfDB official website)

The race to become Africa’s next “super banker” ends on Thursday, with five candidates, including one woman, vying to succeed Nigeria’s Akinwumi Adesina as head of the African Development Bank (AfDB) in a contest that appears too close to call.In 2015 it took six rounds of voting to elect Adesina as president of the AfDB, which was founded in 1964 and now has 81 members, including 54 African nations.Based in Ivory Coast’s economic capital Abidjan, the AfDB is one of the world’s largest multilateral development banks, and is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans.But Adesina’s successor will immediately face a disrupted international economic environment, notably due to announcements from the US Trump administration.Beyond tariffs, the AfDB is also facing the threat of losing 500 million dollars in US funding for its projects to support low income countries on the continent. Two of the five candidates are from west Africa — former finance ministers Amadou Hott of Senegal and Sidi Ould Tah of Mauritania.Two others hail from southern Africa — Zambian economist Samuel Munzele Maimbo and South African Bajabulile Swazi Tshabalala, who was previously a vice president at the institution. Chadian Abbas Mahamat Tolli, the former governor of the Bank of Central African States, will represent central Africa, which has never held the AfDB presidency.

Five priorities:

All five promise to make the AfDB even more effective to transform Africa, continuing Adesina’s five priorities to light up, feed, industrialise, integrate and improve quality of life.“I am proud of the legacy we are leaving behind for… my successor, for the bank, and for Africa,” the outgoing president said in a speech on Tuesday.“We have built a world-class financial institution that will continue to advance Africa’s position within a rapidly changing global development and geopolitical environment.”Adesina said 565 million people had benefited from AfDB projects during his decade in charge.Major projects include support for the construction of the Gabal El Asfar wastewater treatment plant in Egypt — the largest in Africa.The bank also helped finance a bridge connecting Senegal and the Gambia, expanded the port of Lome in Togo, and supported sanitation projects in Lesotho and access to electricity in Kenya, he said.From 2015 to this year, the bank’s capital more than tripled from $93 billion to $318 billion, he added.

Election rules:

To win Thursday’s election, candidates must secure a majority of votes from all member countries and a majority of votes from African nations. But the weight of each shareholder state is determined by the extent of its capital contribution to the bank. As such, the five largest African contributors — Nigeria, Egypt, Algeria, South Africa, and Morocco — will be especially courted.The United States and Japan are the largest non-regional contributors. If there is no winner in the first round, the candidate with the fewest votes is eliminated, a situation that repeats until a candidate achieves the required majority. Alliance-building will therefore be crucial on Thursday, in the corridors of the Hotel Ivoire in Abidjan.





Source link

Share This Article
Twitter Email Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Hikers call 911 over ‘dead’ friend on trail, turns out they were just high on mushrooms – Times of India – Delhi News Daily
Next Article ‘For the sake of peace’: After Operation Sindoor, Pakistan signals willingness for talks with India – Times of India – Delhi News Daily
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Sean ‘Diddy’ Combs Sex Trafficking Trial: How you can become a juror — in the court case of the century | World News – Times of India – Delhi News Daily
  • After Israel-Iran, US President Donald Trump now eyes Gaza conflict, says ceasefire likely to come ‘sometime next week’ – Times of India – Delhi News Daily
  • ‘7 days with no money’: Indian-origin Sydney teenager Aanisha Sathik found week after mysterious disappearance – Times of India – Delhi News Daily
  • ‘Chilling pattern of behaviour’: UK’s oldest cold case solved after 60 years, 92-year-old man gets life for 1967 rape and murder – Times of India – Delhi News Daily
  • ‘Time to scale up’: Over 14 million people could die due to slashing of US aid cuts, study reveals – Times of India – Delhi News Daily

Recent Comments

No comments to show.

You Might Also Like

World News

Trump–Musk rift deepens: Elon Musk announces decommissioning of SpaceX Dragon spacecraft after Trump targets government contracts – Times of India – Delhi News Daily

In a dramatic escalation of their ongoing feud, Elon Musk on Thursday said SpaceX would begin decommissioning its Dragon spacecraft,…

6 Min Read

Pakistan: Flash floods kill 11 amid heavy rain warning – Times of India – Delhi News Daily

Flash floods in Pakistan (Image credits: AP) Flash floods in Pakistan's northwest mountainious province of Khyber Pakhtunkhwa have killed 11…

5 Min Read
World News

‘An act of strength’ : Netanyahu backs Trump’s strikes on Iranian nuclear sites; says ‘it will change history’ | World News – Times of India – Delhi News Daily

Netanyahu backs Trump’s strikes on Iranian nuclear sites Prime Minister Benjamin Netanyahu welcomed US strikes on Iran, publicly expressing strong…

4 Min Read

‘On a flight to Sweden’: Israel deports Greta Thunberg after intercepting Gaza-bound ship she was on; shares pic – Times of India – Delhi News Daily

Climate activist Greta Thunberg (AP) Activist Greta Thunberg was deported from Israel on Tuesday, a day after Israeli naval forces…

4 Min Read

Delhi News Daily

© Delhi News Daily Network.

Incognito Web Technologies

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?